Asia’s naphtha crack spread eases on weak petrochemical margins

13 August 2012 10:16  [Source: ICIS news]

SINGAPORE (ICIS)--Asia’s naphtha crack spread drifted lower on Monday, easing from near three-month high levels in the previous session on the back of weak petrochemical margins, traders said on Monday.

The crack spread for September narrowed to $96.60/tonne (€78/tonne), down 3.1% from $99.65/tonne achieved on Friday.

Open-spec naphtha prices in Asia rose by $4.00/tonne from Friday’s close to $947.00-949.00/tonne CFR Japan on Monday, tracking higher global crude futures stoked by heightened geopolitical tensions in the Middle East.

Meanwhile, northeast Asian ethylene margins fell by $155/tonne in the week ended 10 August to minus $23/tonne – a nine month low, according to ICIS Weekly Margin report.

($1 = €0.81)


By: Felicia Loo



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